Business & Money | Wednesday 20 December, 2023 10:12 am

NDMC closes December issuance of Sukuk program at SAR 10.6B

The National Debt Management Center (NDMC) completed receiving investor orders for its domestic issuance for December 2023, under the Saudi Arabian Government SAR-denominated Sukuk Program.  The total amount allocated stood at SAR 10.55 billion, NDMC said in a statement today, Dec....

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Business & Money | Wednesday 20 December, 2023 10:10 am

Contractors vie for building new Riyadh Metro line

Contractors formed consortiums to bid for Riyadh Metro extension contract to design and build a new line to link Qiddiya to King Khalid International Airport, MEED reported.    The new line (Line 7) will be executed in two phases. The first phase includes building a metro line...

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Business & Money | Wednesday 20 December, 2023 10:09 am

Red Sea International signs SAR 32.2M contract with Baker Hughes

Red Sea International Co. (Red Sea) signed on Dec.  19, a four-year contract worth SAR 32.2 million (VAT -exclusive) with Baker Hughes Co., to design, manufacture, supply and operate a portable complex of prefabricated buildings to support the company’s operational...

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Business & Money | Tuesday 19 December, 2023 3:32 pm

du and Abu Dhabi Global Market (ADGM) forge strategic collaboration for future opportunities

du, from Emirates Integrated Telecommunications Company (EITC), and Abu Dhabi Global Market (ADGM), announced a strategic collaboration that marks a significant milestone in the pursuit of future business opportunities including joint ventures, product development, and the exploration of emerging...

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Business & Money | Tuesday 19 December, 2023 1:13 pm

Meraas reaches milestone as Bulgari Ocean Mansions Crosses Halfway Completion Mark

Meraas, a leading master developer and part of Dubai Holding Real Estate, announces that it has completed 56% of construction of its Ocean Mansions development, ensuring its timely delivery set for mid-2024.  Adorning the northern shore of the prestigious Jumeira Bay Island, the...

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Business & Money | Tuesday 19 December, 2023 9:48 am

DIFC Innovation Hub Concludes Investor Day, Over USD 600mn Raised in Funding Since Programme Inception

DIFC Innovation Hub, home to the first and largest financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region, concluded its annual flagship Investor Day, with over 500 people attending the event, including key figures from the investor community and finalists of the...

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Business & Money | Tuesday 19 December, 2023 9:44 am

Almarai signs an MoU with the Authority of People with Disabilities to train and employ them.

Almarai Company signed a memorandum of understanding with the Authority of People with Disabilities to train, qualify and employ persons with disabilities. This came on the sidelines of the First International Labor Market Conference, organized by the Ministry of Human Resources and Social...

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Business & Money | Tuesday 19 December, 2023 9:36 am

Salik and TAMM forge partnership to Drive Services’ Digital Transformation

Salik Company P.J.S.C., the Emirate of Dubai’s exclusive toll gate operator, has signed a Memorandum of Understanding (MoU) with TAMM, the Abu Dhabi government services platform, under the umbrella of the Department of Government Enablement – Abu Dhabi (DGE). The partnership agreement was...

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Business & Money | Tuesday 19 December, 2023 8:38 am

Singapore-based multi-family office, Farro, establishes regional headquarters in DIFC

Farro Ventures, parent company of prominent Singapore-headquartered multi-family office Farro Capital and leading international mobility solutions provider Farro & Co, is expanding its footprint into the Middle East. Leveraging Dubai's regional strength as an emerging financial hub,...

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Business & Money | Tuesday 19 December, 2023 8:36 am

MEPCO holds 25% local market share, exports 40% of production: CEO

Middle East Paper Co. (MEPCO) holds nearly a 25% market share in the local market, CEO Sami Safran told CNBC Arabia, adding that the company focuses on geographical distribution, as it exports about 40% of its production. The top official indicated that, despite the negative economic...

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